We are at the start of a crucial transition decade during which companies and governments will make decisions that will determine if they, but also if society, will achieve the goals of the Paris Agreement over the next three decades. This is a multi-decadal transition that will be complex and potentially highly disruptive.
Before we look at the specific case of Shell, we need to first recognise the context within which we are operating. There are three points to make here.
First, it is clear governments need to go faster. Increased commitments outlined by leaders at the Biden Summit last week are welcome but indicative of the gap that still remains in public policy if we are to limit warming to 1.5 degrees Celsius.
Second, the oil and gas sector remains critical to the global economy today, and even under the most ambitious future climate scenarios, will continue to remain critical although its production is expected to decline signif…